• April 17, 2021

Federal Government Has Generated N66bn As Stamp Duty Revenue Since January – FIRS

By Lillian Ogbonna (AGENDAWATCHDOG) – Nigeria has generated a total of N66 billion as stamp duty revenue between January and June 2020, according to the Chairman, Federal Inland Revenue Services, Muhammad Nami.

Nami, who made this known during the inauguration of the inter-ministerial committee on audit and recovery of back years stamp duties, revealed, while giving a breakdown of the revenue,  that the FIRS had been authorized by the Finance Act to be the only agency in the country to collect stamp duties.

Giving a breakdown of revenue collected since January 2020, Nami stated that the FIRS had collected and remitted from money deposit banks, a total of N20 billion; Stamp Duties Revenue from stamping of instruments at CAC, is put at about 7.9 billion; amount remitted as at the point of Nami’s appointed, stood at 39 billion; bringing the total stamp duty remitted into the Federation Account from January to June, 2020 to N66 billion.

Agenda Watchdog

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